Peronal Loan Tips - Avoid Unsecured Loans

When you take out a personal loan for a car/boat/holiday try and make sure that you avoid taking out an unsecured loan if possible. If you can put up some security for your borrowings then you will, on most occasions, get a lower interest rate.

The best option is a home equity loan, or redraw extra repayments, this allows you to borrow against the equity built up in your own home or an investment property. This can get you finance at up to 5 percent less than a car/personal loan.